Nokia has announced that Samsung has extended an existing patent licensing agreement with the company for a further five years.

Nokia hasn't said what patents are covered in the agreement, which was set to expire at the end of 2013.

There's no word yet on how much the deal is worth, although Nokia said that Samsung will pay "additional compensation" from 1 January 2014. The pair plan to hash out the amount of compensation through a binding arbitration process that is expected to wrap up in 2015.

"This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties," Paul Melin, chief intellectual property officer at Nokia, said in a statement.

Nokia's patent management activities will be handled alongside R&D by its newly formed Advanced Technologies business and is likely to become a major source of revenue for the company once the sale of its devices and services business to Microsoft proceeds.

Nokia last year launched a major legal assault on rivals in the smartphone business that weren't licensing its standards essential patents — including RIM, which settled early on, and HTC, which has fought Nokia's claims in courts in Europe and the US.

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